AGF Management Ltd. Raises Stock Holdings in Onsemi (NASDAQ:ON)

AGF Management Ltd. increased its position in Onsemi (NASDAQ:ON) by 14.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,538 shares of the semiconductor company’s stock after purchasing an additional 5,227 shares during the period. AGF Management Ltd.’s holdings in Onsemi were worth $2,779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its stake in shares of Onsemi by 7.5% in the second quarter. Daiwa Securities Group Inc. now owns 157,336 shares of the semiconductor company’s stock worth $10,785,000 after acquiring an additional 10,949 shares during the last quarter. Global X Japan Co. Ltd. grew its stake in shares of Onsemi by 49.0% in the second quarter. Global X Japan Co. Ltd. now owns 50,060 shares of the semiconductor company’s stock worth $3,432,000 after acquiring an additional 16,459 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Onsemi in the second quarter worth $296,000. Pier 88 Investment Partners LLC grew its stake in shares of Onsemi by 68.2% in the second quarter. Pier 88 Investment Partners LLC now owns 12,530 shares of the semiconductor company’s stock worth $859,000 after acquiring an additional 5,080 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Onsemi in the second quarter worth $682,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ON. TD Cowen increased their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Susquehanna increased their target price on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. KeyCorp lowered their price target on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Benchmark upped their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.61.

Insider Transactions at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Onsemi Stock Down 1.8 %

ON stock opened at $69.33 on Friday. The business’s 50-day moving average is $73.30 and its two-hundred day moving average is $72.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $98.58. The company has a market cap of $29.83 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 3.64 and a beta of 1.66.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $1.33 earnings per share. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. As a group, analysts forecast that Onsemi will post 4.01 earnings per share for the current year.

About Onsemi

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.